MTS Announces 3Q and 9M 2023 Results
- 9M 2023 Consolidated Group Revenue grew 12.2% year-over-year to RUB 446.0 bn.
- 9M 2023 Group OIBDA increased 8.0% year-over-year to RUB 182.2 bn.
- 9M 2023 Group Net Profit amounted to RUB 38.5 bn, an increase of 41.8% year-over-year.
Moscow, November 16, 2023 — Mobile TeleSystems Public Joint Stock Company (“MTS” or “the Company) (MOEX: MTSS), a digital ecosystem, announces its third-quarter 2023 financial and operating results.
In 3Q 2023, consolidated Group revenue rose by 16.0% year-over-year to RUB 159.7 bn on the back of all the business segments growth. Group OIBDA in the reporting period increased by 0.6% compared to the strong last year period results and considering the investments in the high-potential areas and product teams - to RUB 60.8 bn. Positive drivers of OIBDA were the growth of Telecom sales, successful results of Fintech, revenue growth and effective cost management in Media segment.
Viacheslav Nikolaev, President & CEO, commented: “MTS celebrated its 30th anniversary at the end of October. Throughout our history, we have gone through more than one transformation, but now, more than ever before, we are ahead of the curve: we are attracting the best talent available, and we have become one of the country’s top employers; we are investing in high-potential projects and our own developments, expanding our portfolio of products for our B2C and B2B clients, and improving our clients’ quality of life as well as the amount of time they spend within our digital ecosystem.
In the first nine months of 2023, we enjoyed strong revenue growth in all segments: we maintained our leading position in telecom and strengthened our market position in digital areas. Since the beginning of the year, our subscriber base has grown by 800,000 new users, and our ecosystem base has grown by 700,000 clients. We continue to scale our advertising business (Adtech), which is growing at a rate of 50% year over year thanks to new solutions and an expanding audience; we have also demonstrated excellent performance in Fintech and developed our Media and Cloud business.
These achievements once again demonstrate the effectiveness of our long-term strategy aimed at realizing the synergy of digital segments and creating the best customer experience for tens of millions of MTS products users.”